Since bottoming on 6/28 silver futures have appreciated 37% and this happened in two months time. Whenever a commodity moves that much whether it is higher or lower it should be recognized as that velocity is not sustainable. Futures are running into resistance at the 38.2% Fibonacci level just under $25/ounce. One should notice that […]
Silver is higher by nearly 5% today trading to its highest levels since 6/19. Since 6/28 when September futures traded as low as $18.17 (33 month low) prices are higher by 17.4%. Two significant developments in the last two trading sessions…a settlement above the 50 day MA (light blue line) which had not occurred since […]
I follow and have the ability to trade 5 different metals…in no particular order gold, silver, palladium, platinum and copper. For the most part I am most active in gold and silver with clients, use copper to help navigate other trades interpreting the overall breadth of the economy and rarely do clients trade palladium and […]
In the last 9 months one could have born a child and within that same time frame silver prices are lower by 44%. Bears have been in the driver’s seat with a few exceptions but is that about to change? Can you say R-E-V-E-R-S-A-L? At 8pm last evening est. September silver futures were trading at […]
To say that “serious damage” has been done to the metals complex… well, that’s the understatement of the year! This is the quickest, most prevalent drop I have experienced in my career. In the words of Mohammed Ali, “float like a butterfly sting like a bee.” Consider yourself stung. It was good while it lasted. […]
The $26 level has acted as silver’s support for over two years now. And after a 10% slide over the past three weeks, including today’s 6% drop, we’re once again challenging this all-important line in the sand. Will $26 hold this time? Maybe not… yet I remain a long-term silver bull and see lower prices […]
After seven consecutive losing days has silver fond its footing trading positive by 1.77% as of this post. Now the catalyst may be a disappointing jobs number but to me if we can get follow through into next week silver may deserve some of your speculative dollars. This is but a small victory though the […]
March 18, 2009 – New York , NY – The Hennessee Group LLC, an adviser to hedge fund investors, believes silver is currently underpriced relative to gold and is therefore advising clients to accumulate positions in the precious metal. Charles Gradante, Co-Founder of the Hennessee Group, stated “While we see both gold and silver as […]
Silver has seen a very solid rally that has brought it back up over $14.00. This rally has stalled and the resistance level above $14.00 is strong and could very well hold this market back for some time. While in the long run silver may have the ability to rally much much higher, in the […]
Silver has bounced after falling over $1.50 in two days in mid December. This bounce has fooled many traders to conclude that we are back to the races. This market has just today rallied back above $13.25 and has done a classic head fake move. Look for silver to begin to pull back later this […]
